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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 31 - Money and Finance: Treasury |
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Subtitle B - Regulations Relating to Money and Finance |
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Chapter V - Office of Foreign Assets Control, Department of the Treasury |
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Part 542 - Syrian Sanctions Regulations |
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Subpart E - Licenses, Authorizations, and Statements of Licensing Policy |
§ 542.515 - Operation of accounts authorized.
Latest version.
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§ 542.515 Operation of accounts authorized.
The operation of an account in a U.S. financial institution for an individual in Syria other than an individual whose property and interests in property are blocked pursuant to § 542.201(a), is authorized, provided that transactions processed through the account:
(a) Are of a personal nature and not for use in supporting or operating a business;
(b) Do not involve transfers directly or indirectly to Syria or for the benefit of individuals ordinarily resident in Syria unless authorized by § 542.512; and
(c) Are not otherwise prohibited by this part.